Mosaic should see a “very good” fiscal fourth quarter, which ends in May, executives said on a conference call Wednesday morning.

Global food prices hit record highs last month, and a United Nations food economist told Reuters the organization is worried about the unpredictability of weather activity around the world, given the already high price levels and low supply of some grains. [ID:nLDE7041BM]

DAP PRICING

Mosaic expects to sell its popular diammonium phosphate fertilizer, or DAP, at $510 to $540 per tonne in the fiscal third quarter. That is sharply above the year-ago period, when the company sold the same product for an average of $336 per tonne.

Prokopanko said he is confident Mosaic can achieve the higher price, mostly because much of the fiscal third-quarter stock has been sold.

“We’re pretty sure what we’re forecasting,” he said.

Elsewhere in the fertilizer sector, shares of CF Industries (CF.N) were up 1.2 percent at $136.62, shares of Agrium AGU.TO rose 2.1 percent to $92.55 and shares of Potash Corp POT.TO rose 2.4 percent to $160.49.